1 Course Map

Course map created by Rolando Sanchez, Alamo Colleges

Download the Excel version here.

https://openstax.org/details/books/principles-macroeconomics-2e

All assessments are from the OpenStax text and resources.

1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making. Scarcity Chapter 1 – Welcome to Economics
Opportunity Cost Chapter 2 – Choices in a World of Scarcity
Marginal Analysis Chapter 2 – Choices in a World of Scarcity
2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. Demand Chapter 3 – Demand and Supply
Supply Chapter 3 – Demand and Supply
Equilibrium Chapter 3 – Demand and Supply
3. Define and measure national income and rates of unemployment and inflation Gross Domestic Product Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth
Unemployment Rate Chapter 8 – Unemployment
Inflation Rate Chapter 9 – Inflation
4. Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy. Business Cycle Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth
Potential GDP Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth
Natural Unemployment Chapter 8 – Unemployment
5. Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank. Money Creation Process Chapter 14 – Money and Banking
Federal Reserve System Chapter 14 – Money and Banking
Tools of Federal Reserve Chapter 14 – Money and Banking
6. Construct the aggregate demand and aggregate supply model of the macro economy and use it to illustrate macroeconomic problems and potential monetary and fiscal policy solutions. AD-AS Model Chapter 11 – The Aggregate Demand/Aggregate Supply Model
Fiscal Policy Chapter 17 – Government Budgets and Fiscal Policy; Chapter 18 – The Impacts of Government Borrowing
Monetary Policy Chapter 15 – Monetary Policy and Bank Regulation
7. Explain the mechanics and institutions of international trade and their impact on the macro economy. Comparative Advantage Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism
Free Trade vs. Protection Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism
International Trade Restrictions Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism
8. Define economic growth and identify sources of economic growth. Economic Growth Rates Chapter 7 – Economic Growth; Chapter 19 – Macroeconomic Policy Around the World
Economic Growth Theories Chapter 7 – Economic Growth; Chapter 12 – The Keynesian Perspective; Chapter 13 – The Neoclassical Perspective; Chapter 19 – Macroeconomic Policy Around the World
Comparative Advantage Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism
ALL ASSESSMENTS ARE FROM THE OPENSTAX TEXT AND RESOURCES

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